According to a report published by Grand View Research, Inc.; the ambulance services market is likely to reach at USD 48.9 billion by 2025. Rising incidences of chronic diseases & road accidents and growing geriatric population are the major factors driving the demand for ambulance services. In addition, expanding medical tourism sector along with favorable reimbursement policies can propel the market growth during the forecast period (2018 to 2025). Growing cases of cardiovascular diseases are also expected to boost the market growth during the next few years as such conditions need and emergency medical facilities and care. As per World Health Organization (WHO), CVDs are the leading cause of death globally. In 2015, approximately 7.4 million deaths were due to coronary heart disease while 6.7 million deaths were due to stroke.
The global ambulance services market can be segmented on the basis of transport vehicle, emergency service, equipment, and region. Based on transport vehicle, the market can be categorized into ground ambulance, water ambulance, and air ambulance. As per emergency services, the market can be bifurcated into emergency services and non-emergency services. On the basis of equipment, the market can be classified into Basic Life Support (BLS) ambulance services and Advanced Life Support (ALS) ambulance services.
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Geographically, the market can be divided into North America, Europe, Asia Pacific, Latin America, Middle East and Africa (MEA). In 2016, North America captured the largest market share due to the existence of various companies along with availability of established, high-quality healthcare facilities. High incidence of cardiovascular conditions such as stroke, cardiac arrest, and congestive heart failure will also spur the ambulance services demand in the region. According to the Centers for Disease Control and Prevention (CDC), each year about 610,000 deaths are caused due to heart disorders in the US.
In addition, developing community of paramedicine in the region is also contributing toward the growth of the North America ambulance service market. The community of paramedicine involves employment of Emergency Medical Service or EMS providers for different services including preventive and primary care. The Asia Pacific regional market is likely to register the highest growth rate from 2018 to 2025 due to untapped market potential. Moreover, improving healthcare infrastructure in the emerging nations such as India would also augment the region’s development.
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Growing cases road accidents is another major factor fueling the ambulance services demand in Asia Pacific. According to a report on “Road Safety in the South-East Asia Region 2015”, published by WHO, each year 316000 deaths are caused due to road accidents in this region, which books for around 23.0 % of the global road traffic deaths. Increasing government expenses for healthcare infrastructure development in emerging economies of Asia Pacific would also spur the market demand. Moreover, rapidly expanding medical tourism due to affordable medical facilities are projected to create many growth opportunities for the ambulance services market in the region.
Prominent companies operating in the market include America Ambulance Services, Inc.; London Ambulance Service NHS Trust; Acadian Ambulance Service, Inc.; Falck Holding A/S; Air Medical Group Holdings, Inc.; and Ziqitza Health Care Limited. Participants in the market are following several strategies such as collaborations, M&A, and product portfolio expansion to maintain the competitive edge. For instance, Credihealth, a medical assistance company recently launched a 24-hour online ambulance booking service in Haryana, India.
The new service provides emergency medical care at patient’s doorstep by ensuring immediate attention to severe medical conditions. The new ambulance service provides assistance for cases including trauma and heart attacks by offering Basic Life Support (BLS) and Advanced Life Support (ALS). Each ambulance in this service is equipped with all advanced medical equipment and supplies such as glucometers, defibrillators, aspirin, EpiPens, bandages, splints, oxygen tanks and masks, and many others.
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